Car insurance for young drivers in their teens and early 20s can be pricey, but shopping around can help you find more cost-effective options. Here are some companies that provide low rates to young motorists.
State Farm is a top choice for many young drivers due to its wide selection of discounts and impressive customer satisfaction scores. Furthermore, State Farm provides the Steer Clear program, which rewards teens with savings when they complete an approved safety course.
Auto-Owners
Young drivers can find some of the lowest car insurance rates by choosing Auto-Owners, which is known for its competitive premiums and excellent customer service. Furthermore, Auto-Owners offers multi-policy discounts when you combine auto coverage with homeowners, renters or condo policies.
GEICO, a well-known insurance provider, can be especially beneficial to young drivers with speeding tickets or DUIs on their record. Its Teen Safe Driving program reduces your deductible by $50 every six months you go without an accident or violation.
Students who maintain a B average or higher in school can save even more. Furthermore, those enrolled in a driver's education program can save even more.
Young drivers have several car insurance options from which they can choose, including collision and comprehensive cover, rental reimbursement and roadside assistance. Furthermore, the company provides a full-timers package which covers liability and coverage for motor homes or travel trailers used as temporary residences.
Furthermore, it offers discounts for vehicles equipped with safety features like airbags, seatbelts and anti-lock brakes. Furthermore, its reputation for paying out claims promptly speaks volumes.
As such, it has become one of the most sought-after and recommended companies for young drivers. Furthermore, AM Best has given it an excellent rating in customer satisfaction and financial strength.
For instance, it offers a grace period of seven days when adding a new car to an existing policy. Furthermore, the company gives discounts to those who pay their premiums in full, sign up for paperless billing, and make online payments.
It is essential to remember that auto insurance can be costly, so it's wise to shop around for cheap quotes from multiple insurers. With just a few minutes of research, you may find an attractive rate.
The cost of car insurance varies between companies and is dependent on factors like the driver's age, car type and other elements. Generally speaking, younger drivers tend to get a cheaper rate than older ones do, but it is still possible to find a lower rate if you take some time to shop around and compare quotes from multiple providers.
Erie
Erie Insurance offers the cheapest car insurance for young drivers in a number of states, such as Pennsylvania and Washington D.C. In addition to auto policies, Erie also provides homeowners and renters policies.
According to our research, adding an 18-year-old driver to an Erie policy costs around $501 less than adding that same teenager to an average policy. That's a savings of 62% on the cost of adding a teen driver.
Erie offers a safe driver discount to customers with good driving records, no tickets or accidents and good credit scores. Furthermore, the insurer provides discounts for cars equipped with safety features like factory-installed air bags and anti-theft devices.
Additional advantages include personal items coverage up to $350 for clothing, luggage and other belongings in your car. It also provides extra days of rental car coverage in case your vehicle is totaled in an accident.
Another advantage is a death benefit that pays up to $10,000 in the event of an auto accident that causes the death of one or more people. Although not available in all states, this could be worth considering if you want to safeguard your loved ones.
Additionally, you can obtain a rate lock endorsement that locks in your rate even if changes are made to your policy. This is an effective way to guard yourself against sudden price increases that are difficult to anticipate.
Though Erie's rates may seem like the cheapest in the market, it's essential to shop around before signing up. Doing this will enable you to determine if you are getting the most value for your money.
When selecting a car insurance provider, other factors to consider include your driving record and the company's financial strength. Erie's AM Best rating of "Superior" demonstrates its impressive financial stability and capacity for paying out claims promptly.
Erie is a well-known home and auto insurer that also offers ridesharing coverage on apps like Uber and Lyft. Their policy provides coverage for rides without passengers in the car, plus roadside assistance as well as coverage for lost or stolen items while using rideshare services.
State Farm
State Farm offers a range of discounts to help you save money on auto insurance. These include good student discounts, rideshare coverage and multiple policy discounts for insuring homeowners, renters or condo owners along with your auto policy.
The company also offers a telematics program that rewards safe driving habits with reduced rates over time. However, it is essential to remember that accelerating or braking quickly, taking corners too quickly or speeding will decrease your credit score and may lead to higher rates.
Young drivers can take advantage of one of the industry's largest student discounts and the Steer Clear app, which helps them hone their driving skills and reduce insurance premiums. Older drivers also qualify for discounts like savings when avoiding at-fault accidents or maintaining a clean driving record.
Adopting a teenage driver onto your auto insurance plan may not be cheap, but it could save you thousands of dollars in the long run. Before adding them to your policy, consult with an area agent or get quotes online to compare rates and find the most competitive deals available.
State Farm's average teen driver rate is about $300 below the national average, its customer satisfaction score ranks in the top third of the insurance industry and its rate for teens with bad credit is less than half that of competitors'.
Customers frequently praise State Farm for its ease of filing claims, swift response times and excellent customer service. Others appreciate its long-standing presence in their communities.
If you're uncertain which type of coverage to purchase, ask your State Farm agent for guidance. They can suggest the ideal combination of liability, collision and comprehensive insurance for you; plus they determine if your car's worth enough to cover expenses should it be totaled in an accident.
Obtaining a teenage driver's license is an important milestone, and you want to ensure they have adequate insurance to safeguard themselves financially in case an accident occurs. Otherwise, you could find yourself footing the bill for medical bills, lost wages or legal fees if there are any damages sustained as a result of said incident.
Geico
If you're a teen driver searching for the cheapest car insurance in New York, Geico is an excellent option. Their minimum coverage rates are just $113 per month - 48% less than the state average. Plus, they have the lowest rate available to young drivers with just one speeding ticket at $131 per month.
Parents looking to add a 16-year-old driver to their policy may find USAA an ideal option. Unfortunately, USAA isn't available for teens under 21, so this may not be the best option if you're thinking of adding your teen to your policy.
Many factors can influence your auto insurance rates, such as the type of vehicle you drive, where you live and other personal information. When looking for a new policy, all these elements should be taken into account; keeping track of them helps avoid unnecessary expenses.
Drivers should carefully consider whether they want to carry a higher deductible on their policies. A higher deductible usually lowers your premium, but you must have enough money set aside in an emergency fund in case you ever need to make a claim.
You can save money on your auto insurance by taking a defensive driving course or taking a driver's education course. GEICO offers discounts to drivers who take these measures, such as one if you have an excellent driving record and multiple vehicles insured with them.
A safe driving app can also help you save on your policy. This program tracks your driving behavior through a smartphone app and gives an individualized score; depending on what that score is, you could save up to 25% on your policy.
GEICO also offers discounts to drivers who bundle their auto and homeowners insurance with the company or have a multi-policy discount. Additional discounts are available to members of the military as well as employees of Berkshire Hathaway.
If you're a teenage driver in New York, Geico is an excellent option for your first policy. They provide discounts to safe drivers and their prices are lower than most other insurers'.